2620 Financial expert in the field of Public Investment Management

Location : Belgrade, SERBIA
Application Deadline :18-Jun-23 (Midnight New York, USA)
Type of Contract :Individual Contract
Post Level :National Consultant
Languages Required :
Expected Duration of Assignment :June - December 2023

UNDP is committed to achieving workforce diversity in terms of gender, nationality and culture. Individuals from minority groups, indigenous groups and persons with disabilities are equally encouraged to apply. All applications will be treated with the strictest confidence.

UNDP does not tolerate sexual exploitation and abuse, any kind of harassment, including sexual harassment, and discrimination. All selected candidates will, therefore, undergo rigorous reference and background checks.




To provide technical expertise in the field of Public Investment Management to the Public Investment Management Unit within the Ministry of Finance.




To enhance overall quality of the Public Investment Management process at the Ministry of Finance.


Background Information


UNDP Serbia has been supporting the Ministry of Finance of the Republic of Serbia since 2013 to build capacities for an effective coordination and management, economic reforms, accession negotiations as well as for fulfilling the economic and political criteria for European Union (EU) membership. “Support to strengthening technical capacity and institutional development of the Ministry of Finance and coordination in the field of economic governance” project implementation started in 2018. To fulfil the economic and political criteria for EU membership, as well as to create a stable economic and monetary environment, the Republic of Serbia has to ensure further strengthening of administrative capacities and stability of its institutions. The main project activities are focused on the provision of capacity building support and analysis of the current economic environment, as well as the support in the implementation of Public Investment Management Strategy.


After three years into its implementation, the PIM framework is still evolving. Serbia has recently embarked on reforming its Public Investment Management (PIM) system. A new PIM Decree was passed in 2019 with detailed technical guidance for all segments of the PIM lifecycle. An information system (PIMIS) is currently being developed to support business processes at different stages and levels of the framework. The Ministry of Finance (MoF) strives to increase PIM efficiency further and address some of the issues that became obvious only after the introduction of the Decree. Some of those issues include limited visibility of the PIM framework; a need to strengthen the capacities of the unit in charge of managing it (part of the Fiscal Risk Monitoring Department at the MoF); fragmentation of the overall PIM system; limited scope of the Decree due to several exemptions etc. Additionally, the MoF has to address various procedural issues to allow PIM's further development.


Given the aforementioned, the Ministry of Finance has commenced the implementation of the carrying activities devised in related public policy documents such as the Public Investment methodology and needs external support in its fulfilment.


In line with these requirements, the UNDP in Serbia is seeking a qualified and experienced local expert to provide technical expertise in the field of public investment management to the Ministry of Finance and its Public Investment Management Unit.

Duties and Responsibilities

Scope of work


The consultant shall, under the overall guidance of the UNDP Technical Advisor for Strategic Framework / Delivery Unit Coordinator and in close collaboration with the Ministry of Finance and UNDP project team, assist the Ministry by conducting the following activities:


  • Provide expert support to the management of the Public Investment Department of the Ministry of Finance in Public Investment Methodology implementation;
  • Provide expert support to the Ministry of Finance, in particular to the Public Investment Department, in the process of revising the regulatory documentation.
  • Provide expert support to the Ministry of Finance, and its relevant units, in drafting the relevant bylaws in line with relevant changes.
  • Provide expert support in facilitating public hearings and consultations on all regulatory and strategic recommendations in respect to public investments;
  • To support improvement of the reporting system of the Public Investment Department;
  • To facilitate good cooperation and coordination between national counterparts, project partners and other relevant stakeholders


 Deliverables and timelines

The consultant is responsible for the following deliverables:






Analytical report with recommendations on the most effective implementation methods of the Public Investment Methodology produced, submitted, and approved.

July 15, 2023


Analytical report with recommendations for revision of the most crucial regulatory documentation, including by-laws, related to Public Investment Management produced, submitted, and approved.

August 31, 2023


Analytical report with recommendations for improvement of the process of the public hearings and consultations on regulatory and strategic aspects of public investments produced, submitted and approved.

October 31, 2023


Analytical report with recommendations for improvement of reporting system of the Public Investment Department produced, submitted, and approved.

December 15, 2023


All deliverables will have to be submitted electronically in Serbian language and quality reviewed and approved or accepted by the Technical Advisor for Strategic Framework / Delivery Unit Coordinator.




  • Consistently ensures timeliness and quality of project work;
  • Ability to express ideas clearly; to work independently and in teams;
  • Ability to summarize and systematize complex information and identify priorities for follow up activities;
  • Shares knowledge and experience;
  • Focuses on results and responds positively to feedback;
  • Full computer literacy;
  • Ability to deliver results when working under pressure and within changing circumstances;
  • Excellent writing/reporting and presentation skills;
  • Excellent interpersonal, networking and team building skills;
  • Good organizational and time management skills;
  • Demonstrates integrity by modelling ethical standards.

Required Skills and Experience


  • Bachelor’s degree in finance, economics, or related field. Master’s degree in the relevant field will be considered an asset.


Work experience:

  • Minimum 7 years of progressively responsible work experience in financial sector.
  • Experience in strategic investment, advisory and financial management.
  • Experience with developing project management plans or documents;
  • Work experience in the public sector, city or state administration is considered as asset;



  • Excellent speaking and writing skills in Serbian and English language.




Application procedure:

Consultant is required to submit the following documents in his/her application:

Qualified and interested candidates are asked to submit their applications via UNDP Web site: UNDP in Serbia under section “Jobs” no later than 18th June 2023.


Application should include:


  • CV in English language containing date of birth, contact information (home address, phone number, e-mail) and timeline of work experience (including description of duties). 
  • Offeror’s Letter (only PDF format will be accepted) confirming Interest and availability for the Individual Contractor (IC) Assignment. Can be downloaded from the following link: https://www.undp.org/sites/g/files/zskgke326/files/2022-07/confirmation.docx The Offeror’s Letter shall include financial proposal specifying a total lump sum amount for the tasks specified in this announcement with a breakdown of costs (Offeror’s Letter, including Annex 2, Table A: Breakdown of costs & Table B) Breakdown of costs by deliverables).


In order to apply please merge above listed documents into a single PDF file. The system does not allow for more than one attachment to be uploaded.


The shortlisted candidates may be asked to provide copies of diplomas and any other certificates providing evidence of their education and experience in relevant fields.


Any request for clarification must be sent by standard electronic communication to the e-mail vacancy.rs@undp.org. The procuring UNDP entity will respond by standard electronic mail and will send response, including an explanation of the query without identifying the source of inquiry, to all consultants.


Financial Proposal


  • Lump sum contracts

The financial proposal shall specify a total lump sum amount in USD currency, and payment terms around specific and measurable (qualitative and quantitative) deliverables (i.e. whether payments fall in instalments or upon completion of the entire contract). Payments are based upon approval of each deliverable.  In order to assist the requesting unit in the comparison of financial proposals, the financial proposal will include a breakdown of this lump sum amount (including travel in Serbia, per diems, and number of anticipated working days).




This is home-based engagement therefore no travel envisaged under this Terms of Reference.




Cumulative analysis


When using this weighted scoring method, the award of the contract should be made to the individual consultant whose offer has been evaluated and determined as:

a) responsive/compliant/acceptable in terms of relevant experience and academic background, and

b) Having received the highest score out of a pre-determined set of weighted technical and financial criteria specific to the solicitation.

* Technical Criteria weight; 70%

* Financial Criteria weight; 30%

Only candidates obtaining a minimum of 49 points would be considered for the Financial Evaluation



Max. Point



70 points

Criteria A

Experience and engagement in the national, institutional, legal and investment framework and investment policy implementation processes

30 points

Criteria B

Experience in providing advisory services to public sector

20 points

Criteria C

Experience in conducting various, complex financial analysis, in particular in the public sector

20 points



30 points



Additional Information:


In the case of engagement of Civil servants under IC contract modality a no-objection letter should be provided by the Government entity. The ‘no-objection’ letter must also state that the employer formally certifies that their employees are allowed to receive short-term consultancy assignment from another entity without being on “leave-without-pay” status (if applicable), and include any conditions and restrictions on granting such permission, if any. If the previous is not applicable ‘leave-without-pay’ confirmation should be submitted.


Engagement of Government Officials and Employees


  • Government Officials or Employees are civil servants of UN Member States.  As such, if they will be engaged by UNDP under an IC which they will be signing in their individual capacity (i.e., engagement is not done through RLA signed by their government employer), the following conditions must be met prior to the award of contract:

          (i)       A “No-objection” letter in respect of the individual is received from the Government employing him/her, and;

          (ii)     The individual must provide an official documentation from his/her employer formally certifying his or her status as being on “official leave without pay” for the duration of the IC.

  • The above requirements are also applicable to Government-owned and controlled enterprises and well as other semi/partially or fully owned Government entities, whether or not the Government ownership is of majority or minority status.   
  • UNDP recognizes the possibility that there are situations when the Government entity employing the individual that UNDP wishes to engage is one that allows its employees to receive external short-term consultancy assignments (including but not limited to research institutions, state-owned colleges/universities, etc.), whereby a status of “on-leave-without-pay” is not required.  Under such circumstance, the individual entering into an IC with UNDP must still provide a “No-objection” letter from the Government employing him/her.  The “no objection” letter required under (i) above must also state that the employer formally certifies that their employees are allowed to receive short-term consultancy assignment from another entity without being on “leave-without-pay” status and include any conditions and restrictions on granting such permission, if any.  The said document may be obtained by, and put on record of, UNDP, in lieu of the document (ii) listed above.

If you are experiencing difficulties with online job applications, please contact the eRecruit Helpdesk.

© 2016 United Nations Development Programme